Use the Information in the Adjusted Trial Balance Presented Below

question 152

Multiple Choice

Use the information in the adjusted trial balance presented below to calculate current assets for Taron Company: $\begin{array}{|l|r|l|}\hline \text { Account Title } & \text { Dr. } & \text { Cr. } \\\hline \text { Cash } & \$ 23,000 & \\\hline \text { Accounts receivable } & 16,000 & \\\hline \text { Prepaid insurance } & 6,600 & \\\hline \text { Equipment } & 100,000 & \\\hline \text { Accumulated Depreciation-Equipment } & & \$ 50,000 \\\hline \text { Land } & 95,000 &\\\hline \text { Accounts payable } & & 17,000 \\\hline \text { Interest payable } & & 2,400 \\\hline \text { Unearned revenue } & & 5,000 \\\hline \text { Long-term notes payable } & & 30,000 \\\hline \text { Z. Taron, Capital } & & 136,200 \\\hline \text { Totals } & \$ 240,600 & \$ 240,600 \\\hline\end{array}$

• A)$45,600.
• B)$21,200.
• C)$41,200.
• D)$95,600.
• E)$24,400.

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